Why arent women getting into investing? Gillian Boyes Women in - - PowerPoint PPT Presentation

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Nov 10, 2023 209 likes •434 views

Why arent women getting into investing? Gillian Boyes Women in Super lunch| 1 August 2018 | Auckland Agenda 1. Who says women arent into investing? 2. The obvious and perhaps not so obvious reasons 3. What can we do to help?

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Why aren’t women getting into investing?

Gillian Boyes

Women in Super lunch| 1 August 2018 | Auckland

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Agenda

1. Who says women aren’t into investing? 2. The obvious and perhaps not so obvious reasons 3. What can we do to help?

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KiwiSaver

Source: FMA/CFFC Over 50s KiwiSaver in Money Week survey 2015 Source: ANZ research 2017

Eight years into KiwiSaver, average balances for women members of the ANZ KiwiSaver Scheme were almost 28% lower than balances for men

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A lack of engagement relative to males

Males significantly more likely to:

be happy with current scheme - consider it to be good or excellent value for money;
have read their annual statement, checked their balance, and/or compared their scheme with
ther schemes;
find the information on their annual statement about gains/losses and financial performance very

useful;

have checked if their scheme is on track to produce the income they’re planning for in

retirement;

have looked at the projections on their annual statement;
be in full-time employment and/or have an annual personal income of $50,000 or more.

In contrast, females:

more likely to be uncertain what type of KiwiSaver fund they’re in
whether their fund is good value (23% don’t know compared to 12% of males)
and are also more likely to say they haven’t checked if their scheme is on track to produce the

income they’re planning for in retirement (71% compared to 60% of males).

Source: FMA KiwiSaver annual statements research 2018

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Other investments

Source: FMA Investor Confidence research 2017

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Males are more knowledgeable and confident

Source: FMA Investor Confidence research 2018

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Not just a New Zealand problem

Source: YouGov omnibus survey 2018 Source: Blackrock research quoted in time.com

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Many of the reasons are obvious

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Gender pay gap leads to a gender investing gap

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Lack of knowledge and confidence

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But NOT a lack of desire or ability

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Advisers tend to be older and male

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Language uses ‘male’ metaphors

‘Beating’ the market – war, combat, physical fight
‘Level playing field’ – sports
‘Building’ your portfolio – construction

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Imagery is subtly – or sometimes obviously masculine

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